XML 39 R22.htm IDEA: XBRL DOCUMENT
v3.20.2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2020 | Dec. 31, 2019
Accounting Policies [Abstract] |  |
Schedule of inventory |
|  | September 30, 2020 |  |  | December 31, 2019 |
Raw Material |  | $ | 784,297 |  |  | $ | 372,101 |
Work in Process |  |  | 116,709 |  |  |  | - |
Finished Goods |  |  | 73,994 |  |  |  | 55,415 |
TOTAL INVENTORY |  | $ | 975,000 |  |  | $ | 427,516 |
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |
Raw material |  | $ | 372,101 |  |  | $ | 307,947 |
Finished goods |  |  | 55,415 |  |  |  | 39,998 |
Total inventory |  | $ | 427,516 |  |  | $ | 347,945 |
Schedule of changes in fair value associated with level 3 liabilities |
|  | Fair Value Measurements Using Significant Unobservable Inputs (Level 3) |
|  | Nine Months Ended September 30, 2020 |  |  | Year ended December 31, 2019 |
Balance, beginning of period |  | $ | - |  |  | $ | - |
Issuances of derivative liability |  |  | (32,906 | ) |  |  | - |
Change in fair value of derivative liability |  |  | (136,323 | ) |  |  | - |
Balance, end of period |  | $ | (169,229 | ) |  | $ | - |
|  | Fair Value Measurements Using Significant Unobservable Inputs (Level 3) |
|  | December 31, |
|  | 2019 |  |  | 2018 |
Balance, beginning of period |  | $ | - |  |  | $ | (166,093 | )
Issuances of derivative liability |  |  | - |  |  |  | - |
Reclassification to additional paid in capital |  |  | - |  |  |  | 1,141,995 |
Change in fair value of derivative liability |  |  | - |  |  |  | (975,902 | )
Balance, end of period |  | $ | - |  |  | $ | - |
Schedule of disaggregation of revenue |
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Type of Revenue |  |  |  |  |  |  |  |  |  |  |  |
Product revenue |  | $ | 245,075 |  |  | $ | 61,182 |  |  | $ | 1,043,585 |  |  | $ | 212,905 |
Service revenue |  |  | 16,410 |  |  |  | 26,950 |  |  |  | 53,500 |  |  |  | 100,459 |
Development revenue |  |  | 351,248 |  |  |  | - |  |  |  | 866,119 |  |  |  | - |
Other revenue |  |  | 1,293 |  |  |  | - |  |  |  | 6,394 |  |  |  | 219 |
Total revenue |  | $ | 614,026 |  |  | $ | 88,132 |  |  | $ | 1,969,598 |  |  | $ | 313,583 |
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Timing of Revenue |  |  |  |  |  |  |  |  |  |  |  |
Revenue recognized point in time |  | $ | 331,528 |  |  | $ | 79,166 |  |  | $ | 1,170,409 |  |  | $ | 281,333 |
Revenue recognized over time |  |  | 282,498 |  |  |  | 8,966 |  |  |  | 799,189 |  |  |  | 32,250 |
Total revenue |  | $ | 614,026 |  |  | $ | 88,132 |  |  | $ | 1,969,598 |  |  | $ | 313,583 |
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |
Type of Revenue |  |  |  |  |  |
Product revenue |  | $ | 212,905 |  |  | $ | 125,664 |
Service revenue |  |  | 107,478 |  |  |  | 64,365 |
Total revenue |  | $ | 320,383 |  |  | $ | 190,029 |
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |
Timing of Revenue |  |  |  |  |  |
Revenue recognized point in time |  | $ | 281,333 |  |  | $ | 147,863 |
Revenue recognized over time |  |  | 39,050 |  |  |  | 42,166 |
Total revenue |  | $ | 320,383 |  |  | $ | 190,029 |
Schedule of deferred warranty activity |
|  | Nine Months Ended September 30, 2020 |  |  | Year Ended December 31, 2019 |
Balance at beginning of period |  | $ | 378,850 |  |  | $ | 20,631 |
Additions |  |  | 1,046,250 |  |  |  | 397,269 |
Transfer to revenue |  |  | (1,115,882 | ) |  |  | (39,050 | )
Balance at end of period |  | $ | 309,218 |  |  | $ | 378,850 |
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |
Balance, beginning of year |  | $ | 20,631 |  |  | $ | 30,690 |
Additions |  |  | 20,826 |  |  |  | 32,106 |
Transfer to revenue |  |  | (39,050 | ) |  |  | (42,166 | )
Balance, end of year |  | $ | 2,467 |  |  | $ | 20,631 |
Schedule of lease costs |
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Components of total lease costs: |  |  |  |  |  |  |  |  |  |  |  |
Operating lease expense |  | $ | 80,725 |  |  | $ | 148,922 |  |  | $ | 246,680 |  |  | $ | 445,148 |
Short-term lease costs (1) |  |  | 2,100 |  |  |  | 11,122 |  |  |  | 7,650 |  |  |  | 38,626 |
Sublease rental income |  |  | (20,245 | ) |  |  | - |  |  |  | (70,858 | ) |  |  | - |
Total lease costs |  | $ | 62,580 |  |  | $ | 160,044 |  |  | $ | 183,472 |  |  | $ | 483,774 |
(1) | Represents short-term leases which are immaterial.
|  | Year ended December 31, 2019 |
Components of total lease costs: |  |  |
Operating lease expense |  | $ | 593,707 |
Short-term lease costs (1) |  |  | 46,575 |
Total lease costs |  | $ | 640,282 |
Schedule of ROU lease assets and lease liabilities |
|  | As of September 30, 2020 |  |  | As of December 31, 2019 |
Assets: |  |  |  |  |  |
Operating lease assets |  | $ | 125,258 |  |  | $ | 331,419 |
Total lease assets |  | $ | 125,258 |  |  | $ | 331,419 |
Liabilities: |  |  |  |  |  |  |  |
Operating lease liabilities, current |  | $ | 183,995 |  |  | $ | 489,407 |
Operating lease liabilities, net of current |  |  | - |  |  |  | 52,449 |
Total lease liabilities |  | $ | 183,995 |  |  | $ | 541,856 |
|  | As of December 31, 2019 |
Assets: |  |  |
Operating lease assets |  | $ | 331,419 |
Total lease assets |  | $ | 331,419 |
Liabilities: |  |  |  |
Operating lease liabilities, current |  | $ | 489,406 |
Operating lease liabilities, net of current |  |  | 52,449 |
Total lease liabilities |  | $ | 541,855 |
Schedule of operating leases |
|  | Nine Months Ended September 30, |
|  | 2020 |  |  | 2019 |
Operating cash flows for operating leases |  | $ | 398,374 |  |  | $ | 340,044 |
Weighted average remaining lease term (in years) – operating lease |  |  | 0.4 |  |  |  | 2.3 |
Weighted average discount rate – operating lease |  |  | 14 | % |  |  | 14 | %
|  | Year ended December 31, 2019 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flows for operating leases |  | $ | 570,568 |
Schedule of future minimum lease payments |
Years ending December 31, |  |  |
2020 (3 months) |  | $ | 132,791 |
2021 |  |  | 57,153 |
Total future minimum lease payments |  |  | 189,944 |
Lease imputed interest |  |  | (5,949 | )
Total |  | $ | 183,995 |
Years ending December 31, |  |  |
2020 |  | $ | 531,166 |
2021 |  |  | 57,153 |
Thereafter |  |  | - |
Total future minimum lease payments |  |  | 588,319 |
Lease imputed interest |  |  | (46,464 | )
Total |  | $ | 541,855 |
Schedule of EPS computations |
|  | Three Months Ended September 30, |  |  | Nine Months ended September 30, |
NUMERATOR: |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Basic and diluted - net |  | $ | (3,325,880 | ) |  | $ | (5,225,314 | ) |  | $ | (9,353,706 | ) |  | $ | (16,135,767 | )
DENOMINATOR: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average number of shares of common stock outstanding |  |  | 19,756,465 |  |  |  | 16,910,643 |  |  |  | 19,756,175 |  |  |  | 16,851,371 |
Weighted average number of shares of common stock underlying vested restricted stock units |  |  | 240,863 |  |  |  | 50,396 |  |  |  | 141,418 |  |  |  | 34,486 |
Weighted average number of shares of common stock underlying shares issuable for warrants with minimal consideration |  |  | 46,893 |  |  |  | 1,529 |  |  |  | 46,892 |  |  |  | 515 |
Basic EPS – weighted average number of shares outstanding |  |  | 20,044,221 |  |  |  | 16,962,568 |  |  |  | 19,944,485 |  |  |  | 16,886,372 |
Effect of dilutive securities outstanding |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Diluted EPS – weighted average number of shares outstanding |  |  | 20,044,221 |  |  |  | 16,962,568 |  |  |  | 19,944,485 |  |  |  | 16,886,372 |
|  | Years Ended December 31, |
|  | 2019 |  |  | 2018 |
Warrants to purchase common stock |  |  | 1,590,535 |  |  |  | - |
Options to purchase common stock |  |  | 225,001 |  |  |  | - |
Restricted stock purchase offers |  |  | 163,950 |  |  |  | - |
Convertible debt |  |  | - |  |  |  | 46,893 |
Total potentially dilutive securities |  |  | 1,979,486 |  |  |  | 46,893 |
Schedule of potentially dilutive securities excluded from the computation of diluted net loss per share |
|  | Nine months ended September 30, |
|  | 2020 |  |  | 2019 |
Warrants to purchase common stock |  |  | 1,879,785 |  |  |  | - |
Options to purchase common stock |  |  | 499,674 |  |  |  | - |
Restricted stock units |  |  | 750,000 |  |  |  | 63,080 |
Convertible debt |  |  | - |  |  |  | 46,893 |
Total potentially dilutive securities |  |  | 3,129,459 |  |  |  | 109,973 |
Schedule of concentration of customers |
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
Customer |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
A |  |  | 29 | % |  |  | - | % |  |  | 51 | % |  |  | - | %
B |  |  | 58 | % |  |  | - | % |  |  | 44 | % |  |  | - | %
C |  |  | 13 | % |  |  | - | % |  |  | - | % |  |  | - | %
D |  |  | - | % |  |  | - | % |  |  | - | % |  |  | 44 | %
E |  |  | - | % |  |  | 85 | % |  |  | - | % |  |  | 36 | %
F |  |  | - | % |  |  | - | % |  |  | - | % |  |  | 18 | %
|  | Years Ended December 31, |
Customer |  | 2019 |  |  | 2018 |
A |  |  | 45 | % |  |  | 17 | %
B |  |  | 18 | % |  |  | 76 | %
C |  |  | 36 | % |  |  | 0 | %
Schedule of lease terms and discount rate |  |
Weighted average remaining lease term (in years) – operating lease |  |  | 1.1 |
Weighted average discount rate – operating lease |  |  | 14 | %

X
- Definition Tabular disclosure of the cash paid for amounts included in measurement of lease liabilities. + References No definition available. + Details
Name: | onds_CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilitiesTableTextBlock
Namespace Prefix: | onds_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the deferred warranty activity. + References No definition available. + Details
Name: | onds_DeferredWarrantyActivityTableTextBlock
Namespace Prefix: | onds_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the disaggregations of revenue. + References No definition available. + Details
Name: | onds_DisaggregationsOfRevenueTableTextBlock
Namespace Prefix: | onds_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the lease costs. + References No definition available. + Details
Name: | onds_ScheduleOfLeaseCostsTableTextBlock
Namespace Prefix: | onds_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the lease terms and discount rate. + References No definition available. + Details
Name: | onds_ScheduleOfLeaseTermsAndDiscountRateTableTextBlock
Namespace Prefix: | onds_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the rou lease assets and lease liabilities. + References No definition available. + Details
Name: | onds_ScheduleOfRouLeaseAssetsAndLeaseLiabilitiesTableTextBlock
Namespace Prefix: | onds_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of accounting policy for major customers. Major customers are those that the loss of such customers would have a material adverse effect on the entity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6404-108592 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6327-108592 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 18 -URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6351-108592 + Details
Name: | us-gaap_MajorCustomersPolicyPolicyTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121573735&loc=d3e41502-112717 + Details
Name: | us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(c)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(a)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766 + Details
Name: | us-gaap_ScheduleOfInventoryCurrentTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration